Writing from another planet
Sometimes articles are so exasperating there is no sense in even attempting a response, but usually these don’t appear in the Wall Street Journal. Selection from Thomas Frank:
PRI Flat Tax Study Released
I realize purists will object to any advocacy of taxation besides absolute zero, but even so I encourage people to read at least the first few chapters of my new study (.pdf) on California tax reform. I know I was surprised at some of the charts, even though I already believed in marginal tax rate reductions for moral reasons.
The Intellectuals and Socialism
In all democratic countries, in the United States even more than elsewhere, a strong belief prevails that the influence of the intellectuals on politics is negligible. This is no doubt true of the power of intellectuals to make their peculiar opinions of the moment influence decisions, of the extent to which they can sway the popular vote on questions on which they differ from the current views of the masses. Yet over somewhat longer periods they have probably never exercised so great an influence as they do today in those countries.
A Mother’s Day Gift from the State
Mothers of Ohio, here you go. Ohio Treasurer Richard Cordray is using your tax dollars to provide you with the gift you desired all along. Though, for some reason, you couldn’t recognize that desire -- a breakdown of Thymology I suppose. Regardless, here it is. Enjoy. Cordray knew you would. Thankfully, my mother lives in Florida and is unaware of Cordray trumping my measly gift. Well, at least I paid for mine. Hey, wait a minute, I paid for both!
The Fed’s War on the Middle Class
Show Trial Planned for Energy Markets
The US House of Representatives will hold hearings on energy markets trying to determine who is causing oil prices to rise. The anti-market investigation will blame hedge funds and investment banks for manipulating the markets to make oil go to record levels. Oil is too global a commodity for speculators to determine its price.
Mom or government?
It’s tornado season here in Ohio. This afternoon as a few funnel clouds were forming miles from my house, I received a call from my mother living in Florida. Seems she was not about to wait for her son to make his yearly Mother’s Day call as she had urgent news. CNN and other news outlets were reporting funnel clouds and tornados in central Ohio, with my county noted as a likely target. This was sometime before 2:00. I turned on the TV and hit the web for detailed updates. Luckily, the storms passed overhead without even a significant touchdown.
Catechism of Political Economy
Machine to explain the economy (1949)
Thanks to Don Lloyd for this link to an interesting story about a British machine that modeled the workings of the British economy: